Singapore to miss 2035 green-power import target: Wood Mackenzie report

Singapore is projected to fall short of its 2035 goal of importing 6 gigawatts of low-carbon electricity, according to a report by Wood Mackenzie. The report highlights several key obstacles that are hindering progress, including export permit regimes, project bankability, cross-border transmission financing, and the absence of a mechanism for buyers to claim the carbon value of imported power.

Despite these challenges, Malaysia is the only corridor with a credible path to delivery by the end of the decade through an existing interconnector with up to 1 GW of capacity. Other countries, such as Sarawak, Malaysia, Indonesia, Vietnam, Cambodia, and Australia, have made progress on approved pipelines, but many are still at the conditional approval stage with no visible construction timeline.

Imported power must compete with Singapore's wholesale electricity price, and EMA has also expanded plans for hydrogen-ready gas-fired generation.

Brief written by urgent.news from The Business Times - Singapore's own syndicated text. Machine-written — may contain errors; check the original before relying on it.